Customers increasingly contact their issuing banks, or credit card companies, to dispute transactions. For example, if goods or services have not been delivered or provided as promised, when experiencing buyer's remorse, or when a charge is not recognized. Currently, when a consumer disputes a transaction, a 45 to 90 day dispute resolution process is invoked which forces acquirers and merchants to prove that the disputed charge is valid. This is a time consuming and costly process that generally provides a poor experience for all involved.
In addition, current dispute resolution systems do not allow issuers and merchants/acquirers to notify each other about the remedial actions taken by each of these parties. Accordingly, it is possible for an account holder to get refunded twice: once from the merchant and once from the issuer. Even though systems may be in place to detect the dual-refund after the refunds are complete, the reverting one of the refunds is a time consuming and burdensome process.
Embodiments of the invention address these problems and other problems individually and collectively.